Midas1

Mortgage Servicers' Perverse Incentives

Bank of America is in the customer service hall of shame for the 3rd year in a row. No surprise. This has to be the worst run, most inept, corrupt firm in the U.S. Just do a simple search of "complaints" and "Bank of America". One site carried 31 pages of complaints. Of course, there are multiple sites equating to thousands of complaints. Is it any wonder we're in this financial mess when we have nothing more than a bunch of crude, rude, overbearing, obnoxious, arrogant, lying, cheating fleabags running firms such as this one? Will we ever get to a point where integrity means anything anymore?

CMOs Dissatisfied with Quality of Candidate Pool

Now substance matters? For years the highest and most enduring qualification has been to know what to kiss and when. Example: Quite frankly, if I were one of the passengers on Sully's flight, I don't give a hoot how nice or fluffy you are in the work environment, or what your coworkers think of you. I want you to know what you're doing. Sully is a rare breed. Perhaps if the financial services and other industries sought true quality people, they'd get true quality results. Instead, they choose to hire airheads that can compliment their threatened bosses and coworkers to keep them feeling warm and fuzzy. Ask any one of the 155 passengers aboard that US Air flight if they care about Sully being a team player and if he said all the nice things people want to hear. The most assuredly wanted someone who knew what they were doing. This world desperately needs more Sullys (substance) and less fluff. Is the corporate world dissatisfied with the looking lot because they are not Stepford employees or because they might challenge the boss?

BofA's Merrill Purchase: Good for America, Bad for Them

Bank of America royally put the screws to its shareholders. I'm not surprised. What is not as highly published about BOA is its rotten customer service (demonstrating its true core values or lack thereof). Every time there is a significant up or down day and people are trading in vast numbers, BOA's server crashes. Why? Because this idiot-run organization took on hundreds of thousands of "customers" and never updated their blasted IT to handle the load. BOA, Merrill Lynch, Madoff, Lehman, AIG--what a sea of fools and greed. They are all ALIKE. When BOA swallowed Quick & Reilly, QR customers without their knowledge, consent or approval found their accounts designated full-service, equating to BOA gobbling multiple fees. Since QR was a discount brokerage firm, obvious COMMON sense would have dictated its customers didn't want "advice" from BOA, just the usual SELF-DIRECTED accounts. Indeed and in fact, in this day and age, hell will thaw out before I would ever trust any so-called broker. No one is more interested in tracking their money than the people who stood on their feet, up to 16 hours per day in my case, to know exactly what it took to earn (yes EARN, not like Wall Street) the money. BOA is no better than Merrill or the rest of them. Don't portend that BOA did anybody any favors other than for its own greedy goals. BOA remains in the top five spots in the customer hall of shame. By this article, one might think BOA saved the day, so to say. It did not. BOA bought Merrill out of greed, just like the rest of the scum in the financial services industry. Reputation takes years to build, minutes to ruin. American financial firms will never recover from this expose of greed and corruption.

Are Consumers Satisfied With Online Banking?

Bank of America's system is down every time there is an "up" day or a bad "down" day. They have taken on too many customers without adequate IT backup. When their server goes down, accounts show a zero balance. No trading can be done when this occurs and the system remains in gridlock until IT personnel get the blasted thing fixed. BAC is in the customer service hall of shame and it should be. Their hurry to acquire companies (Merrill Lynch, Countrywide) left their customer service in the toilet. Big certainly does not mean better. Early in October a quote on IBM was frozen for more than 24 hours. How many people do you think made decisions based on the erroneous information? How ironic the frozen IBM is the very company BAC so desperately needs to fix its problems!!!

The Great Bank Rush of 2008: What's the Money For?

Face it, we're on a financial Titanic. For the greed of a few, there goes the country. Mr. Bush, is there anything else you'd like to ruin before you get your sorry behind out of office?

That Sucking Sound? It's FDIC Insurance Taking Over

RAB-then those people who invest in companies should be bailed out when there is a loss! Obviously, you're one of the ones who need the bailout. Stop whining and blaming the sales people. Read the fine print. Get educated!

That Sucking Sound? It's FDIC Insurance Taking Over

Buy a house way over your head in affordability. Don't make the payments. Stay in the house during the foreclosure process-free of charge of course. A forced move. Onwards and upwards to another home thanks to the U.S. Government bailing out a bunch of people who didn't have the intellect to spell cat even when spotted the "c" and the "a", let alone read what they signed without hesitation. Did Uncle Sam bail out the stockholders in 2000 when the market tanked? No. Why should we bail out these irresponsible people now? Why is it that we as taxpayers are sucked dry because of the stupidity of a few? Why does this government reward welfare behavior? Here's a solution: get off your rumps, work for a living, and live BELOW your means. Stop expecting everyone else to rescue you from your own ignorance. Gee, wonder why we have an immigration issue? Who wouldn't want to come here with the free ride for education, medical care, housing, food stamps, etc.? When will this dumbing down of America come to an end?